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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Fitch rates ComBank the strongest Bank

Fitch rates ComBank the strongest Bank

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1Fitch rates ComBank the strongest Bank Empty Fitch rates ComBank the strongest Bank Thu Jul 23, 2015 9:27 am

Melissa Pereira


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

The National Long-Term Rating of Commercial Bank of Ceylon PLC has been affirmed at ‘AA(lka); Stable Outlook’ by Fitch Ratings Lanka (FRL).
Commercial Bank’s Basel II compliant outstanding subordinated debentures have been affirmed by Fitch at ‘AA-(lka)’.
In a recent report, the agency said: “Fitch considers Commercial Bank as the strongest bank in this peer group. Its rating captures its more measured risk appetite, solid franchise, sound track record, and strong funding profile. The bank’s provision coverage has been improving and asset quality has remained satisfactory. The ratings reflect our expectation that its operations in Bangladesh will remain small.” “Sustained improvements in Commercial Bank’s asset quality and enhanced resilience against a volatile operating environment could be positive for the rating,” Fitch said.
Courtesy: Daily News 23 July 2015

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